Description
The most popular forms of incorporation for foreign investors are Private company limited by shares and Exempt private company limited by shares.
Advantages
Prestigious jurisdiction
No taxes when doing business outside of Singapore
No requirements for payment of authorized capital
Lack of foreign exchange regulation
Ability to use a nominee service
Taxes
There is no tax on dividends and capital gains in Singapore. The zero rate applies to all types of income received outside the territory of the state from non-residents, until a profit in excess of 100,000 USD is received or before the expiration of three years from the date of registration. When one of these events occurs, the tax rate increases from 0% to 8,5%, and if the profit exceeds 300,000 USD – to 17%.
Registration conditions
The minimum share capital is one Singapore dollar. The legislation does not limit the maximum amount of the authorized capital.
The company must have at least one director who is a resident of Singapore.
There are no restrictions on the number of other directors of the company, and there are no requirements for their residency.
Shareholder. The minimum number of shareholders is one. The maximum number of shareholders (for private companies) is 50. A shareholder of a company can be either an individual or a legal entity. There are no residency requirements.
Secretary. Each Singapore company must appoint a company secretary who is a resident of Singapore. Secretary services are provided as part of the company escort.
Services and prices
Registration of a company
The cost of registering a company is 4400 USD.
It includes:
Submission of documents for remote registration of a company
Payment of mandatory state fees
Legal address for one year
Local secretary services for one year
Local nominee director (mandatory requirement)
Accounting department
Reporting. Every Singaporean company has an accounting duty. The first financial statements of the company must be submitted 18 months after the registration of a company.
It is necessary to submit an annual financial report to confirm non-resident activities. The cost of such a report depends on the number of transactions. On average, the cost of preparing a report is from 350 EUR + 5 EUR for each transaction (the price may vary depending on the specifics of the transactions).
The bank was founded in Yerevan in 2002. Today it is the leader in terms of the volume and number of cross-border payments in Armenia.
Advantages
- Remote account opening;
- Online Bank;
- The opening period is from 10 days after the submission of the entire package of documents;
- Urgent opening after submission of the entire package of documents – 3 days;
- Individual service (there is a personal manager, all issues are resolved on a call);
- No requirement to maintain a minimum balance;
- Working with all major currencies: USD, EUR, CNY and others;
- Large network of correspondent banks;
- The AML policy is based on European principles (EU AMLD 6th, FATF Recommendations).
Requirements
- Obligatory interview with the beneficiary (available offline and online).
The bank was founded in Geneva in 1990 as Unibank (Suisse) SA. In 1993 it was renamed CIM Banque. Bank CIM Banque (SIM Bank) is a member of the Swiss Stock Exchange and a member of the Association of Swiss Banks.
Advantages
- Swiss Bank – a prestigious European jurisdiction;
- Remote opening is possible;
- Modern internet banking;
- Multi-currency accounts;
- Issuance of corporate bank cards.
Requirements
- Activation deposit 10000 USD / EUR / CHF (minimum account balance 1000 USD / EUR / CHF);
- An office lease agreement and the presence of local employees in the country of registration are required.
Make a request, the manager of Tailor-Made Solutions will contact you within one working day and consult you on any questions
